Blockchain Technology Breathes More Life unto a Stagnating Filmmaking Industry

Blockchain technology is proving its mettle as a robust tool for disruption across various industries. This is evident in the establishment of potential value creation platforms for all levels of participants in the various industries that they belong.

Centralized film distribution systems can be blamed for the slow pace of innovations in the filmmaking industry. Considering the available resources and existing technology, it is evident that this industry retains much more potential than what is put out for the public to consume.

Blockchain as a tool for revival

In other to change the status quo, StreamSpace is leveraging upon blockchain technology to deliver a decentralized platform that will offer all levels of filmmakers and viewers alike unlimited benefits.

With the goal of becoming the world’s leading destination for innovative film content, StreamSpace is launching an innovative platform and community that will link creative, independent filmmakers with audiences that seek out quality, edgier film experiences. This is made possible by the implementation of blockchain technology so as to achieve a secure storage method of the video content, based in part on Protocol Labs’ IPFS and Storj. This ensures that contents that are transferred between film owners and viewers do not run the risk of being tampered or pirated.

Portable viewership

The decentralized ledger which blockchain offers will enable enhanced transparency, accountability and security and the front-end decoder and embedded HTML5 player will enhance optimization for video streaming, initially on PCs, followed by the most popular consumer video consumption clients: Apple iPhone, Android smartphones, and SVOD portals

Apple TV, Amazon Fire, etc.). Portable viewership is currently the easiest and most effect way to reach a wider audience, thereby increasing revenue opportunities in terms of market size.

Extended inter-industry benefits

Apart from accessibility and market size, several other innovations embedded in the StreamSpace platform takes it beyond just filmmaking and entertainment. Features such as content recommendation engine, tokenized system of transaction, social community and crowdfunding opportunities makes the platform much bigger that a film distribution network. It indeed creates a total ecosystem that merges entertainment with social relationships and revenue generation.

Apparently, the total revolution that is championed by blockchain technology continues to unfold as we continue to experience its revamping effects, breathing life to dying industries and energizing already vibrant ones.